To ensure that most of the routine work is not carried out by a person, they are automated. The most widely used trading software in the world is Metatrader 4 or MT4.
It offers a variety of features for traders. Advanced technical analysis, flexible trading systems and an extensive range of opportunities including automated trades make it easy to trade on any market from beginner all the way up through professional levels with ease.
Even if you don’t have access to the computer, MT4 offers mobile apps you can use for tracking your daily transaction signals.
Before understanding how this software can make your online trading easier, let’s understand Metatrader 4 at all.
What is Metatrader 4?
Metatrader 4 is an advanced trading system that offers many tools for technical analysis, Trading Signals to help you make better trades and market research as well. It is licensed to Forex brokers around the world so in case you choose to start trading with brokers you will get access to MT4.
MT4’s strong point is its analytical features. The program has built-in technical indicators that help to respond quickly to price changes with ease and precision, allowing for a more fluid trading experience overall.
Does MT4 offer a Demo account?
Trading, opening and closing trades can be done on a Metatrader 4 demo account. If you are relatively new to the Forex currency market, and want to test your capabilities and get acquainted with the trading tools, the demo version of the program will help you with this.
If desired, the Demo version can also be used to promote traders. For example, if you want to change your strategy, but you are not sure about its effectiveness, you can test it on the demo version offered by MT4.
Differences between MT4 and MT5
For the first sight, the difference between MT4 and MT5 does not seem so obvious, but it is. The main difference between them is that MT4 is designed for CFD forex brokers, while on MT5 not only they can trade, but also other financial markets such as stock markets and crypto markets.
Metatrader pros and cons
MT4 is one of the most popular trading programs today. It has a number of advantages that you should pay attention to.
The usable interface – with an intuitive and easy-to use interface, MetaTrader 4 provides traders of all levels the opportunity to trade without problems. The changeable market enables users with little experience in trading or who are just starting out on their career path as well – it’s perfect for everyone! You can download mobile programs so you’ll always have your charts at hand.
Minimum resource cost – Unlike other platforms that take up a lot of memory on your phone or tablet, MT4 will not interfere with the operation and speed of other apps. It instantly responds to all actions while still providing traders high-quality service they deserve!
Flexibility – You can trade using different currency pairs on different markets.
Security guarantee – Trading on the MT4 platform is highly secure, with a number of precautions in place to ensure that your assets remain safe. Starting from IP addresses of users, all information is kept in the strictest confidence. So it never leaves any identifying information exposed for hackers.
Let’s go over some of the disadvantages of MP4.
The installation process is not the easiest -The reason is that you should install not only the main program, but the additional fonts. It will help you to be sure that the software works without stopping.
It is uncomfortable for Mac users – MT4 was originally developed for Windows, so its interface and some settings aren’t as user-friendly to Mac users.
Inability to maintain swaps – it means that leaving transactions unclosed for the next day you pay a commission for it.
Conclusion
The MetaTrader 4 terminal is a versatile commercial platform with an extensive range of analytical functions. It does not fall behind when it comes to stability, ease-of development and comfort; in fact they are far ahead!